Philippines Trade Deficit Smallest in Over a Year

2026-09-30 01:16 By Kyrie Dichosa 1 min. read

The Philippines’ trade deficit narrowed to USD 3.8 billion in August 2026 from USD 4.0 billion in the same month a year earlier.

This marked the smallest trade gap since May 2025, as exports surged to a two-year high of 27.8% year-on-year to USD 9.1 billion, driven by increased sales of electronic products (+59.9%), notably semiconductors (+73.5%).

Outbound shipments also increased for other mineral products (+1.8%) and gold (+15%).

The US remained the top export market, accounting for 23.8% of total exports, followed by Hong Kong (17.3%), China (11.5%), and Japan (7.7%).

Meanwhile, imports climbed 16.6%, due to higher purchases of electronic products (+61.4%), mineral fuels, lubricants, and related materials (+38.6%), and cereals and cereal preparations (+26.6%).

China accounted for the largest share of imports at 22.7%, followed by South Korea (21.1%) and Japan (7.3%).

In January to August, the trade gap widened to USD 41.6 billion from USD 32.9 billion in the same period last year.



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Philippines Trade Deficit Smallest in Over a Year
The Philippines’ trade deficit narrowed to USD 3.8 billion in August 2026 from USD 4.0 billion in the same month a year earlier. This marked the smallest trade gap since May 2025, as exports surged to a two-year high of 27.8% year-on-year to USD 9.1 billion, driven by increased sales of electronic products (+59.9%), notably semiconductors (+73.5%). Outbound shipments also increased for other mineral products (+1.8%) and gold (+15%). The US remained the top export market, accounting for 23.8% of total exports, followed by Hong Kong (17.3%), China (11.5%), and Japan (7.7%). Meanwhile, imports climbed 16.6%, due to higher purchases of electronic products (+61.4%), mineral fuels, lubricants, and related materials (+38.6%), and cereals and cereal preparations (+26.6%). China accounted for the largest share of imports at 22.7%, followed by South Korea (21.1%) and Japan (7.3%). In January to August, the trade gap widened to USD 41.6 billion from USD 32.9 billion in the same period last year.
2026-09-30
Philippines Trade Gap Widens in July
The Philippines’ trade deficit widened to USD 6.0 billion in July 2026 from USD 4.4 billion in the same month a year earlier. Imports advanced 19.8% year-on-year to USD 14.1 billion, driven by higher purchases of electronic products (+61.3%), primarily semiconductors (+79%). Arrivals also increased for mineral fuels, lubricants and related materials (+34.8%), as well as cereals and cereal preparations (+50.1%). China accounted for the largest share of imports at 29.5%, followed by South Korea (12.7%), Japan (7.9%), and Indonesia (5.7%). Meanwhile, exports grew at a smaller 10.8% to USD 8.1 billion, supported by increased sales of electronic products (+22.2%), machinery and transport equipment (+16.6%), and gold (+29.3%). The US remained the top export market, accounting for 20.7% of total exports, followed by Hong Kong (15.9%), China (11.3%), and Japan (10.5%). In the January-July period, the trade gap widened to USD 37.3 billion from USD 28.9 billion in the same period last year.
2026-08-28
Philippine Trade Gap Widens in June
The Philippines’ trade deficit widened to USD 4.9 billion in June 2026 from USD 4.4 billion in the same month a year earlier. Imports rose 19.6% year-on-year to USD 13.7 billion, driven by a sharp increase in purchases of electronic products (+82.9%), mainly semiconductors (+105.4%), amid growing global AI demand. Imports also increased for mineral fuels (+6.3%), industrial machinery and equipment (+1.3%), and cereals and cereal preparations (+48.1%). China accounted for the largest share of imports (31.7%), followed by South Korea (13.0%), Japan (6.7%), and Indonesia (6.7%). Meanwhile, exports rose 24.1% to USD 8.8 billion, led by electronic products (+35.2%), primarily semiconductors (+33.4%). Exports also increased for machinery and transport equipment (+28.6%), gold (+43.8%), and other manufactured goods (+9.8%). The US remained the top export market, accounting for 20.1% of total exports, followed by Hong Kong (15.3%), China (11.4%), and Japan (11.3%).
2026-07-30